”WallStreetBets Crypto Pumps” group on Telegram duped more than $2 million in BNB and an undisclosed amount in ETH from crypto investors.

Members of the well-known WallStreetBets Reedit forum came under suspicion for what was allegedly a $2 million cryptocurrency fraud. By establishing a dedicated Telegram group, they deceived investors by promising amazing returns by taking advantage of the recent boom in the cryptocurrency market.

The Piltdown hoax reconsidered

Extract

There has been a great deal of speculation about who was behind this astounding deception ever since it was discovered in 1953 that the artefacts at Piltdown were forgeries, and the subject has been covered extensively in our pages over the past 20 years. Charles Dawson has frequently been implicated as the forger, and in the late Professor Weiner’s book The Piltdown forgery, this seems to be the answer implicitly rather than explicitly. For a variety of reasons, some persons have attempted to place all or part of the responsibility on the late Father Diehard de Chardon. We have seen a lot of other candidates come and go, and many of us have questioned whether we should ever learn the truth. Now we believe we do, thanks to the meticulous investigation of Dublin-based biographer and literary historian Peter Costello. He has published a priceless book outlining his thorough research into this question and arriving at what we think is the right and appropriate conclusion. He very kindly agreed to provide us with a brief synopsis before the release of his significant book, which we reproduce here with great pleasure. All Antiquity readers will eagerly await reading the full exposition of his argument in his book whenever it is published.

The Aftermath

More than 3,451 Binance Coins were taken out of the wallet included within the Crypto Pumps messages on Tuesday, May 4th, after the prank was carried out.

The fraud resulted in losses of more than $2.1 million because BNB cost about $625 at that time. Following the fraud, thousands of people vented their annoyance and made an effort to identify the culprits. The amount of the other cryptocurrency, ether, is also still a mystery.

WSB administrators issued a warning two weeks ago regarding offers that would attempt to capitalize on the forum’s name in order to entice the crypto audience. The “WallStreetBets – Crypto Pumps” Telegram account has been deleted, but the person in charge of it left behind a statement that might shock the victims: